Visionary Horizons LLC Makes New $413,000 Investment in M&T Bank Co. (NYSE:MTB)

Visionary Horizons LLC acquired a new position in M&T Bank Co. (NYSE:MTB) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,067 shares of the financial services provider’s stock, valued at approximately $413,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MTB. Envestnet Portfolio Solutions Inc. purchased a new position in shares of M&T Bank in the 3rd quarter valued at approximately $615,000. Mariner LLC increased its position in M&T Bank by 4.5% during the 3rd quarter. Mariner LLC now owns 29,826 shares of the financial services provider’s stock valued at $3,772,000 after buying an additional 1,276 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its position in M&T Bank by 50.3% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 849 shares of the financial services provider’s stock valued at $107,000 after buying an additional 284 shares in the last quarter. Natixis Advisors L.P. increased its position in M&T Bank by 13.5% during the 3rd quarter. Natixis Advisors L.P. now owns 121,414 shares of the financial services provider’s stock valued at $15,353,000 after buying an additional 14,396 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in M&T Bank by 26.1% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 8,964 shares of the financial services provider’s stock valued at $1,133,000 after buying an additional 1,853 shares in the last quarter. Hedge funds and other institutional investors own 84.68% of the company’s stock.

Analysts Set New Price Targets

MTB has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their target price on M&T Bank from $162.00 to $170.00 and gave the stock a “market perform” rating in a report on Tuesday, April 16th. DA Davidson reissued a “neutral” rating and issued a $159.00 target price on shares of M&T Bank in a report on Tuesday, April 16th. Jefferies Financial Group lifted their target price on M&T Bank from $151.00 to $160.00 and gave the stock a “hold” rating in a report on Tuesday, June 4th. Wells Fargo & Company upped their price objective on M&T Bank from $145.00 to $150.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $160.00 price objective on shares of M&T Bank in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $161.51.

Insider Transactions at M&T Bank

In other news, EVP Christopher E. Kay sold 1,821 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $153.78, for a total value of $280,033.38. Following the sale, the executive vice president now directly owns 8,579 shares in the company, valued at $1,319,278.62. The sale was disclosed in a document filed with the SEC, which is available at this link. In other M&T Bank news, EVP Christopher E. Kay sold 1,821 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $153.78, for a total transaction of $280,033.38. Following the transaction, the executive vice president now directly owns 8,579 shares in the company, valued at approximately $1,319,278.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Doris P. Meister sold 1,638 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $138.21, for a total value of $226,387.98. Following the transaction, the executive vice president now owns 3,362 shares in the company, valued at $464,662.02. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,553 shares of company stock worth $14,724,147. 0.82% of the stock is currently owned by company insiders.

M&T Bank Stock Performance

NYSE:MTB opened at $147.46 on Thursday. The stock has a 50-day simple moving average of $147.83 and a two-hundred day simple moving average of $141.72. M&T Bank Co. has a 52-week low of $108.53 and a 52-week high of $156.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $24.60 billion, a PE ratio of 9.97, a P/E/G ratio of 2.90 and a beta of 0.78.

M&T Bank (NYSE:MTB) last released its quarterly earnings data on Monday, April 15th. The financial services provider reported $3.02 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.11). M&T Bank had a return on equity of 10.68% and a net margin of 19.52%. The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. During the same period last year, the company earned $4.09 EPS. Analysts forecast that M&T Bank Co. will post 13.99 EPS for the current year.

M&T Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Monday, June 3rd will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 3.66%. This is an increase from M&T Bank’s previous quarterly dividend of $1.30. The ex-dividend date of this dividend is Monday, June 3rd. M&T Bank’s dividend payout ratio is presently 36.51%.

About M&T Bank

M&T Bank Corporation operates as a bank holding company for Manufacturers and Traders Trust Company and Wilmington Trust, National Association that engages in the provision of retail and commercial banking products and services in the United States. The company operates through three segments: Commercial Bank, Retail Bank, and Institutional Services and Wealth Management.